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Global Microbolometer Market Size By Type (Vanadium Oxide, Amorphous Silicon), By Application (Automotive, Medical), By Geographic Scope And Forecast


Published on: 2024-08-13 | No of Pages : 320 | Industry : latest updates trending Report

Publisher : MIR | Format : PDF&Excel

Global Microbolometer Market Size By Type (Vanadium Oxide, Amorphous Silicon), By Application (Automotive, Medical), By Geographic Scope And Forecast

Microbolometer Market Size And Forecast

Microbolometer Market size was valued at 445.54 Million in 2023 and is projected to reach USD 767.16 Million by 2031, growing at a CAGR of 7.07% from 2024 to 2031.

The growing need for thermal imaging cameras in security and surveillance applications is one of the main factors propelling the market’s expansion. The Global Microbolometer Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Microbolometer Market Definition

Due to the growing need for thermal imaging solutions across a number of industries, including automotive, aerospace, defense, industrial, and surveillance, the global Microbolometer Market is expanding significantly. Key components of thermal imaging equipment, microbolometers are becoming more and more popular due to their small size, inexpensive cost, and improved performance, which is causing a global shift in their use.

Growing application areas, rising awareness of the advantages of thermal imaging systems, and technological developments are expected to propel the worldwide Microbolometer Market’s future growth. It is anticipated that leading companies in the industry would concentrate on R&D projects to improve product offerings and tackle new market trends, maintaining their competitive advantage in the changing environment. Furthermore, it is projected that cross-industry alliances and collaborations would spur innovation and quicken market penetration, creating new growth prospects in the years to come.

The market is divided into categories based on application and kind. The market is divided into two segments based on typeAmorphous Silicon and Vanadium Oxide. The market is divided into four segments based on applicationautomotive, video surveillance, thermography, aerospace and defense, and others. Growing need for security and surveillance, as well as the expanding automotive industry and growing industrial applications, are driving the market. Cost restrictions on the product type and competition from alternative technologies are impeding the market.

As a whole, the increased need for thermal imaging solutions across many sectors is driving the worldwide Microbolometer Market, which offers manufacturers attractive potential. Sustained investments in research and development, along with strategic collaborations, are expected to fuel market expansion and drive technological innovation, influencing the future of the Microbolometer Market globally, despite obstacles like cost constraints and competition from alternative technologies.

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Global Microbolometer Market Overview

The rising use of thermal imaging technology in a variety of industries has led to a notable increase in the global Microbolometer Market in recent years. Because of their small size, low power consumption, and excellent sensitivity to thermal radiation, microbolometers are essential parts of thermal imaging systems. Microbolometers are suited for use in industries such as aerospace and defense, automotive, industrial, and healthcare because of these characteristics. The growing need for thermal imaging cameras in security and surveillance applications is one of the main factors propelling the market’s expansion. The use of microbolometer-powered thermal imaging technology has become essential for improving situational awareness and threat detection skills due to growing worries about security threats and the requirement for sophisticated surveillance systems.

Furthermore, by broadening the range of applications and enhancing overall performance, developments in microbolometer technology—such as the creation of smaller pixel sizes, greater resolutions, and better image quality—are propelling market expansion. But obstacles like high startup costs and regulatory limitations could impede market expansion to some extent. However, it is anticipated that continued R&D efforts to improve microbolometer performance and lower costs will lessen these difficulties and propel market expansion in the upcoming years.

The growing emphasis on security and surveillance applications, together with technological developments and rising demand from a variety of end-use sectors, are driving significant growth in the global Microbolometer Market. The market is anticipated to grow strongly despite certain obstacles, propelled by continuous innovation and the widening application landscape.

Global Microbolometer MarketSegmentation Analysis

The Global Microbolometer Market is segmented on the basis of Type, Application, and Geography.

Microbolometer Market, By Type

  • Vanadium Oxide
  • Amorphous Silicon
  • Others

To Get a Summarized Market Report By Type-

Based on Type, The market is segmented into Vanadium Oxide, Amorphous Silicon, and Others. Vanadium Oxide dominate the Global Microbolometer Market and are projected to grow at a higher CAGR during the forecast period. Because of its advantageous thermal and electrical characteristics, vanadium oxide (VOx) is a material that is frequently used in microbolometers and is appropriate for a wide range of thermal imaging device applications. Uncooled microbolometers are thermal detectors that are small, light, and inexpensive since they do not need cryogenic cooling. Vanadium oxide’s high temperature coefficient of resistance (TCR) and low thermal conductivity make it a popular choice for the active material in uncooled microbolometers. The increasing use of vanadium oxide in uncooled microbolometers in industrial thermography, automobile safety systems, and surveillance is predicted to fuel a steady increase in demand for these instruments.

Cryogenic cooling is used by cooled microbolometers to improve their sensitivity and performance, which qualifies them for high-end thermal imaging applications. Cryogenic cooling is used to improve the sensitivity and performance of cooled microbolometers, which makes them appropriate for high-end thermal imaging applications. Vanadium oxide-based cooled microbolometers are less prevalent than their uncooled counterparts, but they are nevertheless useful in specialized areas like the military and defense, where high-performance thermal imaging capabilities are essential.

New developments in thermal imaging, including integrated sensor arrays and MEMS-based microbolometers, provide potential benefits in terms of cost-effectiveness, scalability, and shrinking. Vanadium oxide could be used as the main sensing material or as a component of composite materials in the development of new microbolometer technologies.

In the market for microbolometers, vanadium oxide is a major player in a variety of device types, including uncooled, cooled, and hybrid configurations, as well as new technologies. Due to its distinct thermal and electrical characteristics, it is a material of choice for thermal imaging applications. As a result, it has been integrated into a variety of microbolometer devices that meet the needs of various industries. Vanadium oxide is anticipated to play a significant role in the development of thermal imaging technology and its applications in the years to come as long as technical breakthroughs fuel innovation in the microbolometer industry.

Microbolometer Market, By Application

  • Military, Aerospace And Defense
  • Automotive
  • Medical
  • Others

Based on Application, The market is segmented into Military, Aerospace and Defense, Automotive, Medical, and Others. The Military, Aerospace and Defense segment holds the largest market share and is expected to grow at a higher CAGR during the projected period. The market for microbolometers is mostly driven by their use in the military, aerospace, and defense industries. In the military, microbolometers are widely employed for target acquisition, surveillance, and reconnaissance. Military personnel can identify possible threats even in poor light or bad weather thanks to the thermal imaging capabilities offered by microbolometers. Enhancing situational awareness and operational effectiveness is the capacity to carry out covert surveillance activities and safely monitor wide areas. For force protection and border security, microbolometer-based thermal imaging systems are used to track border areas and identify unwanted incursions. Through the provision of real-time thermal imaging of the surrounding area, these systems aid in the prevention of unauthorized border crossings, smuggling operations, and incursion attempts.

Microbolometer-based thermal imaging systems are frequently installed in military vehicles to improve situational awareness, threat identification, and target acquisition in combat. These devices lessen the possibility of casualties and improve operational capabilities by enabling vehicle crews to identify and engage hostile targets from a safe distance.

Electronic warfare systems use microbolometers to identify and block adversary electronic signals, including communications and radar emissions. Microbolometers’ thermal imaging capabilities improve electronic threat detection and identification, enabling efficient electronic warfare tactics and counters.

Microbolometer Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East And Africa

To Get a Summarized Market Report By Geography-

Based on Geography, The Global Microbolometer Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America accounted for the largest market share for the Global Microbolometer Market. For several reasons, the Microbolometer Market in the United States is growing rapidly. One of the primary causes is the expanding demand for thermal imaging technology across numerous industries, such as the automotive, industrial, and security sectors. As sensor technologies advance, there is an increasing need for high-performance microbolometers that can detect thermal radiation and convert it into visible images.

The public’s growing concerns about security and safety also fuel the need for thermal imaging cameras for surveillance by governmental agencies, law enforcement, and the defense industry. The United States automotive sector is experiencing substantial growth, particularly in the areas of advanced driver-assistance systems (ADAS) and autonomous driving technology adoption. Microbolometers are essential for enhancing the object detection, pedestrian detection, and night vision capabilities of these systems and thus propelling the market expansion because they provide thermal imaging.

The concentration of large companies and technological innovators in the area is promoting market expansion. Companies such as FLIR Systems, Inc., Seek Thermal, and Teledyne Technologies are putting money into research and development to provide state-of-the-art microbolometer systems that are more sensitive, effective, and reasonably priced. Moreover, market expansion and the smoother implementation of state-of-the-art thermal imaging technologies across various sectors are being facilitated by the strategic partnerships, mergers, and collaborations among industry participants.

The increasing use of thermal imaging technology in various applications is driving up the market for microbolometers in Canada. One of the key drivers of market expansion in Canada is the increasing need for thermal cameras in the building and construction inspection sectors. The application of thermal imaging technology supports efforts to conserve energy and perform preventative maintenance by making it easier to identify structural flaws, moisture incursion, and heat loss.

The increasing investments in infrastructure development projects, including smart city initiatives, are driving the need for thermal imaging systems for applications including traffic monitoring, public transportation, and infrastructure maintenance. Microbolometers are critical to the development of smart city technologies because they offer real-time thermal data for enhanced situational awareness and decision-making. All things considered, the Mexican Microbolometer Market is characterized by growing demand across several industries, which is supported by the presence of both domestic and international businesses that offer state-of-the-art thermal imaging solutions to satisfy customers’ evolving demands.

Key Players

The “Global Microbolometer Market” is highly fragmented with the presence of a large number of players in the Market. Some of the major companies include Teledyne Technologies Inc., Lynred, BAE Systems, Fraunhofer IMS, Global Sensor Technology, Seek Thermal, IRay Technology Co., Ltd., I3system, SDCUSA, and Zhejiang Dali Technology Co.,Ltd.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with Coating Type benchmarking and SWOT analysis.

Key Developments

  • In September 2023, BAE Systems has introduced new capabilities for its TWV640 thermal camera core, which is intended for manufacturers of thermal imaging solutions for the defense, space, and commercial industries. The technology is utilized for security and surveillance, firefighting vision systems, automobile cameras, and other applications.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2020-2031

BASE YEAR

2023

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2020-2022

UNIT

Value (USD Million)

KEY COMPANIES PROFILED

Teledyne Technologies Inc., Lynred, BAE Systems, Fraunhofer IMS, Global Sensor Technology, Seek Thermal, IRay Technology Co., Ltd., I3system, SDCUSA.

SEGMENTS COVERED
  • By Type
  • By Application
  • By Geography
CUSTOMIZATION SCOPE

Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

To Get Customized Report Scope- 

Research Methodology of Market Research

Table of Content

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To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )